Increase in rent anticipated due to Fifa World Cup 2022

The first-ever international football event to be held in the Arab world, the prestigious sports event is scheduled to begin on November 20.Followers from across the world are anticipated to travel to Dubai, which is near to Qatar geographically, for the month-long event.

Zoom Property Insights claims that Dubai can take advantage of both the abundance of short-term rentals and its close proximity to Qatar.

People from the Middle East and football enthusiasts from around the world will flock to see the enthralling game during the first-ever international football event to be held in the Arab world.

Ata Shobeiry, CEO at Zoom Property, says, “Many real estate agencies and short-term rentals have reported advanced bookings for November and December. However, a month before the tournament, in October, people will start to notice the full impact of the forthcoming mega-football event. It will significantly improve Dubai's already-expanding rental sector.

During the first half of the year, rents rose in well-known Dubai neighborhoods. Rents for modestly priced apartments have gone up by 21%, while rents for upscale units have gone up by 43%. Rent for villas has increased significantly as well. In the second half of the year, these rents are anticipated to rise even more as a result of the Fifa World Cup.

The rising demand for short-term rentals is another trend that experts have noticed. This is due to the fact that several hotels and resorts in Dubai have already accepted advance reservations, compelling tourists to look for more affordable alternatives. To meet this demand, many landlords are moving from one-year leases to short-term ones.

According to Zoom Property Insights, the number of holiday rentals increased by over 65%. In this scenario, an additional increase is anticipated.

“Apart from the real estate, the benefits of the upcoming FIFA world cup will extend to tourism and hospitality sectors as well. This will eventually benefit the economy on the whole,” Shobeiry said.

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